Singapore Savings Bonds (SSB) to start issuing in September

Details of application for the Singapore Savings Bonds, which is suppose to help encourage and bump up Singapore citizens savings rate were released.

You can start applying the bonds in 1st September 2015 and ends at 25th September 2015 with the results announcing on the 28th. The bonds will be in your account on the 1st October

The bonds are projected to be an ongoing issuance for 5 years with 2-4 billion projected to be issued this year.

On 1st October where the bonds are credited, the information of the yield from 1st year to the 10th year will be made available to the public

The bonds will be issued every month so there is no need to rush or feel sad that you did not get the allocation the first time round.

You will need to have a bank account with the three participating bank of DBS, UOB and OCBC AND a CDP account

Application will be how you apply for an IPO at the bank ATM. You will need key in the amount of bonds in denomination of $500 to apply for, check your CDP number is the correct number and keep the receipt

Related

Comments

Hi Kyith…this is the first time the that the first year rates are higher than current FD rates offered by our local banks while the subsequent rates are on par with FD rates by foreign banks. Do you think it is a sign the govt is playing catch up?

I think the rates are a combination of forces at work. I doubt FD rates are higher than the 1 year SGS bond rates. the SGS bonds rates in my memory have always been higher. the fixed d rates is like 0.25%. I just checked and that is the normal rates.